Introduction To Accounting

Dwayne

Notion Of Accounting

Accounting is the method of recognizing, documenting, computing and communicating financial information which permits good financial management choices. From long time ago there was need to make financial decisions and an Accounting system was used.

Accounting:
– Recognizes, documents, computes and communicates information on the financial capital of a business.

-Has the outcome of supporting an institution in realizing its aims.

-Emphasizes or communicates information about units in financial conditions.

-Highlights anything being computed, also summing up information for overall management decision making.

-Presents overall fiscal information which may be utilized for precise roles by appropriate organizations in need of financial sources.

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